Insurance & protection · Calculator companion · By K Imports
Underinsurance claim estimate: practical guide
This guide explains how to use the Count.ie underinsurance claim estimate. Illustrate how an average clause and excess can reduce a covered-loss claim. Follow the inputs, method and worked example below, then compare your own scenario.
Guide written .
Open the Underinsurance claim estimate calculatorWhat to prepare
- Use policy wording, insured values, financial records and the proposed coverage period.
- Distinguish replacement value, market value, debt and an income-protection need.
- Check exclusions, waiting periods and limits separately from the calculator.
Understand the inputs
The calculation method
Scale loss by insured sum / rebuild value if an average clause applies, cap at insured sum, then deduct excess.
Worked example
Illustrative inputs and their result.
Example inputs
- Actual rebuild/replacement value (€)
- 400000
- Declared sum insured (€)
- 300000
- Covered loss before policy adjustments (€)
- 100000
- Policy excess (€)
- 500
- Policy applies this illustrative average clause
- Yes
Calculated example result
- Estimated Claim Payment
- €74,500.00
- Uninsured Claim Gap
- €25,500.00
How to interpret the result
An estimated cover need or relief does not mean a policy will pay a claim or that an expense is eligible. Coverage, underwriting and statutory conditions must be checked independently.
Compare equivalent coverage and exclusions, not just premiums. Test how a changed valuation, interruption period or household need affects the estimate.
Common mistakes to avoid
- Do not assume a property purchase price equals its rebuild cost.
- Avoid counting the same liability or replacement need twice.
- Check whether the proposed cover period and benefit match the actual exposure.
Assumptions and sources
Editable inputs are planning assumptions; check the method and result notes for scope.
If your case falls outside this scope, use a more suitable calculator or contact us about an unclear method.